Here's the analogy: remember how first class seats and business class seats account for a large portion of profit for airlines but only count for fewer seats? Economy class has the most seats but is the least profitable segment. The same goes for Sabre, except we are paying for C level and bad employees to leave.
First is the 15% pay cut for everyone. Yes, everyone. Then they give options for severance. What's the point of cutting 15% when you're going to give them 10 months of salary? That's the same as increasing salary.
All the SVP, high level people are gone. Employees who got the company in a stranglehold because they were "the only one" to do the job quickly took the chance to leave.
Sabre should have fired them when they had the chance but you paid them to leave after they bombed your product? That's insane!